At the same time, Rassvet Company was working hard in the real estate market, had founded several new companies that carried on construction, agricultural product processing, engineering, stock exchange businesses. Taking into account diversification of the product assortment, existing conditions and the necessity to develop a new organizational structure, Rassvet Joint-stock Company was incorporated in August 1995 to associate those companies in a single industrial and financial holding.

Initially, Rassvet Holding Company consisted of 6 sub-holdings and 22 subsidiaries. They included: in Zaporozhye - IRTA Investment Company, Alians-Vyd Registrars, Zaporozhye City Energy Company, Rassvet Engineering Center Subsidiary, SouthColorMetGasCleaning OJSC, Rassvet-Energy Scientific Research Center OJSC, Vesna OJSC, Zaporozhye Integrated House-building Factory OJSC; in Kyiv - Energy Scientific Center, UkrEnergyProtection OJSC, Experimental Machining Plant OJSC. The organizational structure of the holding featured a high degree of independence of subordinated companies. The parent company exercised strategic government and disposed of the subordinated companies’ assets.

The crisis situation in the power industry and necessity to re-equip production and power-generating facilities applying new energy-conservative and environmentally safe technologies demanded to develop a modern efficient business unit by consolidating a number of the above companies under a single strategic, financial and marketing management that would provide for implementation of a package policy in scientific researches, designs and production.

In 2003, Rassvet-Energy Joint Stock Holding Company was incorporated to include such scientific and design units as Institute of Applied Research in Power Industry, Engineering Center Subsidiary, as well as industrial enterprises - SouthColorMetGasCleaning OJSC, UkrEnergyProtection OJSC, Experimental Machining Plant OJSC, and later on - Gas Cleaning Equipment Manufacturing Plant, KuznetsovskEnergyProtection Subsidiary, Vesna OJSC. In 2005, Rassvet-Energy Holding Company was re-organized into OJSC RENCO Group. In the re-organized group, the corporate management is implemented by the Scientific and Technical Council and General Managing Board.

The top business priority of RENCO Group is to capture the leading position in the national power industry implementing projects on the international standard level, involving domestic and foreign investors in the following spheres:

• applied scientific researches in the power industry;
• engineering, designs and turn-key construction of power-generating facilities while applying the most modern technologies;
• solving environmental problems by repairing, reconstructing and upgrading industrial gas-cleaning systems;
• creation of anticorrosive protection and thermal isolation systems to guarantee durability and reliability of industrial and power-generating equipment, metal and concrete constructions and structures;
• industrial construction.